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Equatorial Guinea Energy Outlook Suffers Double Whammy This Week

  • Fortuna LNG project off African nation suffers start-up delay
  • IEA predicts crude output capacity to drop by 15% through 2023

OPEC member Equatorial Guinea suffered a double blow this week to its ambition of revitalizing its energy industry.

The International Energy Agency said on Monday the West African nation’s crude production is on a “downward slope,” with capacity expected to drop 15 percent over the next six years to 110,000 barrels a day. That’s little more than a third of its peak output of 300,000 barrels a day in 2004.